Forex currency symbols and pairs explained variance

A price chart depicts changes in supply and demand. A chart aggregates every buy and sell transaction of that financial instrument in our case, currency pairs at any given moment. When the future arrives and the reality is different from these expectations, prices shift again. And the cycle repeats. Whether the transaction occurred by the actions of an exporter, a currency intervention from a central bank , trades made by an AI from a hedge fund, or discretionary trades from retail traders, a chart blends ALL this information together in a visual format technical traders can study and analyze.

Line Chart A simple line chart draws a line from one closing price to the next closing price. When strung together with a line, we can see the general price movement of a currency pair over a period of time.

All you know is that price closed at X at the end of the period. You have no clue what else happened. But it does help the trader see trends more easily and visually compare the closing price from one period to the next. The line chart also shows trends the best, which is simply the slope of the line.

Some traders consider the closing level to be more important than the open, high, or low. By paying attention to only the close, price fluctuations within a trading session are ignored. A bar chart is a little more complex. It shows the opening and closing prices, as well as the highs and lows.

Bar charts help a trader see the price range of each period. Bars may increase or decrease in size from one bar to the next, or over a range of bars. The bottom of the vertical bar indicates the lowest traded price for that time period, while the top of the bar indicates the highest price paid.

As the price fluctuations become increasingly volatile, the bars become larger. As the price fluctuations become quieter, the bars become smaller. The fluctuation in bar size is because of the way each bar is constructed. The vertical height of the bar reflects the range between the high and the low price of the bar period. The horizontal hash on the left side of the bar is the opening price, and the horizontal hash on the right side is the closing price.

A bar is simply one segment of time, whether it is one day, one week, or one hour. Candlestick charts show the same price information as a bar chart but in a prettier, graphic format. Candlestick bars still indicate the high-to-low range with a vertical line. However, in candlestick charting, the larger block or body in the middle indicates the range between the opening and closing prices. Traditionally, if the block in the middle is filled or colored in, then the currency pair closed LOWER than it opened.

Here at BabyPips. They just look so unappealing. Today other non-precious metals are used for coins. Metals were mined, weighed, and stamped into coins. This was to assure the individual accepting the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but the existence of standard coins also created a new unit of account , which helped lead to banking. Archimedes' principle provided the next link: coins could now be easily tested for their fine weight of the metal, and thus the value of a coin could be determined, even if it had been shaved, debased or otherwise tampered with see Numismatics.

The world's oldest coin, created in the ancient Kingdom of Lydia. Most major economies using coinage had several tiers of coins of different values, made of copper, silver, and gold. Gold coins were the most valuable and were used for large purchases, payment of the military, and backing of state activities. Units of account were often defined as the value of a particular type of gold coin. Silver coins were used for midsized transactions, and sometimes also defined a unit of account, while coins of copper or silver, or some mixture of them see debasement , might be used for everyday transactions.

This system had been used in ancient India since the time of the Mahajanapadas. The exact ratios between the values of the three metals varied greatly between different eras and places; for example, the opening of silver mines in the Harz mountains of central Europe made silver relatively less valuable, as did the flood of New World silver after the Spanish conquests. However, the rarity of gold consistently made it more valuable than silver, and likewise silver was consistently worth more than copper.

Main article: Banknote In premodern China , the need for lending and for a medium of exchange that was less physically cumbersome than large numbers of copper coins led to the introduction of paper money , i. Their introduction was a gradual process that lasted from the late Tang dynasty — into the Song dynasty — It began as a means for merchants to exchange heavy coinage for receipts of deposit issued as promissory notes by wholesalers ' shops.

These notes were valid for temporary use in a small regional territory. In the 10th century, the Song dynasty government began to circulate these notes amongst the traders in its monopolized salt industry. The Song government granted several shops the right to issue banknotes, and in the early 12th century the government finally took over these shops to produce state-issued currency.

Yet the banknotes issued were still only locally and temporarily valid: it was not until the mid 13th century that a standard and uniform government issue of paper money became an acceptable nationwide currency. The already widespread methods of woodblock printing and then Bi Sheng 's movable type printing by the 11th century were the impetus for the mass production of paper money in premodern China. Song dynasty Jiaozi, the world's earliest paper money At around the same time in the medieval Islamic world , a vigorous monetary economy was created during the 7th—12th centuries on the basis of the expanding levels of circulation of a stable high-value currency the dinar.

Innovations introduced by Muslim economists, traders and merchants include the earliest uses of credit , [8] cheques , promissory notes , [9] savings accounts , transaction accounts , loaning , trusts , exchange rates , the transfer of credit and debt , [10] and banking institutions for loans and deposits. As Sweden was rich in copper, many copper coins were in circulation, but its relatively low value necessitated extraordinarily big coins, often weighing several kilograms.

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